GBPUSD Analysis Taking Partial Profits

Recently I have noticed that my target levels are being exceeded by relatively small amounts, around 30 pips or so. This is very frustrating for me and I am sure that many of you might also be getting stopped out. Therefore I decided to give you a small technique that may or may not already be obvious to you.

Usually when a level reacts as in the case of the GBPUSD, the move almost always gives a relatively small profit of 70-90 points. I would advise that those of you trading my analysis lock in 70-90 points on the first reaction – there is usually always the opportunity to place your stop at break even at some point in the trade.

News

For those of you that want to use a more effective method of trading, I would like recommend my forthcoming ebook “Precision Trading”. In my book I will show you how to run a trade and also how to extract money from your tradea even when you only get a relatively small move.

Please lookout for more details regarding the launch of Precision Trading on the blog if you are interested.

Tagged as:  Currency Trading · forex · forex tips · Forex Trading · GBPUSD · GBPUSD Daily · Technical Analysis